Mobileye Global (NASDAQ:MBLY) Stock Price Target Lowered at TD Cowen

Key Points

• TD Cowen lowered Mobileye Global’s price target from $9 to $8 while maintaining a “buy” rating, implying approximately 11.27% upside from the stock’s $7.19 price.
• Analyst sentiment is mixed, with the broader consensus rated “Hold” and an average price target of $11.18; several firms recently reduced their targets, while Citigroup initiated coverage with a “buy” rating and an $11 target.
• Mobileye reported quarterly EPS of $0.19, exceeding the $0.06 consensus estimate, while revenue reached $508 million versus expectations of $480.51 million. Two directors also purchased roughly $199,000 worth of shares combined.

Mobileye Global (NASDAQ:MBLY - Get Free Report) had its price target cut by research analysts at TD Cowen from $9.00 to $8.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a "buy" rating on the stock. TD Cowen's price target would suggest a potential upside of 11.27% from the stock's current price.

Several other brokerages have also recently commented on MBLY. The Goldman Sachs Group dropped their price target on Mobileye Global from $9.00 to $8.00 and set a "neutral" rating for the company in a research report on Tuesday, October 6th. Morgan Stanley reduced their price objective on Mobileye Global from $10.00 to $9.00 and set an "equal weight" rating for the company in a research note on Thursday, October 15th. Canaccord Genuity Group decreased their price objective on Mobileye Global from $17.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, July 24th. Mizuho lowered their target price on shares of Mobileye Global from $9.00 to $8.00 and set a "neutral" rating on the stock in a research note on Friday, July 24th. Finally, Citigroup assumed coverage on shares of Mobileye Global in a research note on Friday. They set a "buy" rating and a $11.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $11.18.

Mobileye Global Trading Down 0.4%

MBLY stock opened at $7.19 on Monday. Mobileye Global has a 12-month low of $6.47 and a 12-month high of $15.19. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of -1.44, a PEG ratio of 2.43 and a beta of 1.25. The business's 50-day moving average is $8.07 and its 200 day moving average is $8.61.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.06 by $0.13. The company had revenue of $508.00 million during the quarter, compared to analyst estimates of $480.51 million. Mobileye Global had a positive return on equity of 0.70% and a negative net margin of 201.49%. Mobileye Global's quarterly revenue was up .4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.08) EPS. As a group, equities analysts forecast that Mobileye Global will post 0.11 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Frank D. Yeary purchased 12,360 shares of the company's stock in a transaction dated Thursday, July 30th. The stock was acquired at an average cost of $7.98 per share, for a total transaction of $98,632.80. Following the completion of the transaction, the director directly owned 12,360 shares of the company's stock, valued at approximately $98,632.80. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Safroadu Yeboah-Amankwah purchased 11,841 shares of the company's stock in a transaction dated Thursday, August 6th. The stock was bought at an average price of $8.46 per share, with a total value of $100,174.86. Following the completion of the transaction, the director directly owned 84,336 shares of the company's stock, valued at approximately $713,482.56. This represents a 16.33% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 10.00% of the company's stock.

Hedge Funds Weigh In On Mobileye Global

A number of institutional investors have recently added to or reduced their stakes in the stock. Counterpoint Mutual Funds LLC purchased a new stake in shares of Mobileye Global in the third quarter valued at about $9,074,000. Vontobel Holding Ltd. increased its position in Mobileye Global by 51.2% during the third quarter. Vontobel Holding Ltd. now owns 38,030 shares of the company's stock worth $281,000 after purchasing an additional 12,870 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Mobileye Global by 6.9% during the third quarter. Assenagon Asset Management S.A. now owns 2,586,131 shares of the company's stock worth $19,112,000 after purchasing an additional 166,392 shares during the period. Farther Finance Advisors LLC raised its stake in Mobileye Global by 665.2% during the third quarter. Farther Finance Advisors LLC now owns 11,386 shares of the company's stock worth $84,000 after purchasing an additional 9,898 shares during the period. Finally, Tidal Investments LLC boosted its holdings in Mobileye Global by 17.8% in the 2nd quarter. Tidal Investments LLC now owns 159,149 shares of the company's stock valued at $1,541,000 after purchasing an additional 24,088 shares during the last quarter. Hedge funds and other institutional investors own 13.25% of the company's stock.

Mobileye Global Company Profile

Mobileye Global Inc NASDAQ: MBLY develops advanced driver-assistance systems and autonomous driving technologies for vehicle manufacturers worldwide. Founded in 1999 and headquartered in Jerusalem, Israel, the company provides computer-vision and artificial-intelligence solutions designed to improve vehicle safety and support automated driving.

Its product portfolio includes EyeQ system-on-chips, camera-based driver-assistance features, and software for functions such as automatic emergency braking, lane-keeping assistance, adaptive cruise control, and traffic-sign recognition.

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